I’m putting in my notice Feb 13 after bonus drops. I see there is now a 30-60 day mandatory notice period for most employees, enforced mainly by a clawback provision in recently vested RSRs. Any way I can stop working sooner without incurring that penalty? Up to managers discretion? I can’t work more than much beyond the 13th without splattering my brains onto the front of 550 tryon
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It’s actually a lose lose for WF. Especially if the employee is going to a competitor. We had a leader leave and had to have a 90 day notice period. Which just meant he was paid for 90 days but didn’t work because he was going to a competitor. It was such cr-p. Couldn’t hire a replacement in that time either.
There's not clawback provision for cash bonuses though, right? Not much to loose then other than maybe ineligibility for future employment.
@fh, they’re not talking about the normal 2 week notice period. This is an entirely new notice period for certain officer levels and the manager CANNOT waive it. Workday won’t even let you, so you’ve not done this before with the new required notice periods since July of 2025 for Vice Presidents and above.
Left last year after bonus hit account. Had a job lined up at USAA, so there are people who do this…
Actually the manager can waive the period. I’ve done it twice, paid them for 2 weeks but cut all their access.
For certain LOB do you really want them here unless they have some institutional knowledge to share? Otherwise they’re just a cancer like so many others waiting for severance and not giving a f* like so many on this board
Sure you are. Every year on here many people say they're going to leave after the bonus hits, and every year, nobody does.
you may have noticed that if you accepted the $2k RSUs they gave out last year after the asset cap was lifted, the language from those became applicable to other years RSUs as well. Very sneaky. just give your notice and phone it in during that period. if you have another job offer negotiate the start date, most companies will be fine with it.
@OP I’m not sure but check the language. You may only lose RSAs issued in 2025 or beyond. That clause was not in prior years per my recollection
@b1 if you are on notice you are still employee
@bt You are right! I messed that up! Easy to do when the important week stop being pay week and becomes the week after pay week.
@b1 The bonus is on 02/13 paycheck.
Correct, I “retired” according to the WF definition of retirement. Older than 55 with more than 10 years of service. I actually went to work somewhere else two months later.
@bb, the notice period wasn’t in place last year at bonus, so you must be talking about retirement vs. quitting.
A correction on what a previous response said. Your manager or manager’s manager CANNOT decide to waive your notice period. Only the head of HR can. The manager or manager’s manager can put in the request, but they cannot approve it. This applies to anyone anywhere in the bank, regardless of LOB. It all goes to the head of HR and then she works with the OC of that area to decide to deny or approve it. If not approved, you can have your vested shares clawed back that you cashed in and you will me marked ineligible for rehire. However, if your vested and cashed shares are negligible (think like under $100k), they will ask for it back, but will not pursue it further than asking because it costs more to pursue than getting it back. You can put your notice in and just “coast” because with the progressive discipline policy, they won’t have time to fire you before your notice period is up.
I did this last year. Put my notice in the day the bonus hit my USAA account. I was an Exec Dir., so I had to give them 30 days to keep my RSRs. Have heard it’s changed since then. Wife still works at WF and hopes to be let go this year, as she’s 58 and ready to retire. A year’s worth of severance, so she’s hopeful!
@OP Interesting, wonder how many others have this same plan?
If I read correctly, you have to be an employee and NOT in any kind of notice period on the day of the bonus payout. Believe bonus to direct deposit on 02/19, and the pay voucher dated 02/20. If those dates are correct, seems like a notice should be given no earlier than 02/20.
There might be two brains at that spot if I have to work further too. None of my RSRs are vested though and I don’t plan to work at WF or this industry again so I may just walk once the bonus is secure
Right, your required notice period to leave is determined by your officer title. Your manager or their manager would have to choose to waive the required notice period. As you know, in addition to marking you ineligible for any future rehiring they can claw back any vested rsrs in the last 12 months and you will forfeit all future awards. Good luck